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Someone paid over 50k XRP for a transaction fee

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5 minutes ago, FixnUrPowerline said:

Seems very odd to me. It doesn't seem to be on accident. When you are playing with that amount of $ I just have a hard time believing you aren't triple checking everything. 

If no accident, what would be the motivation? Hard to imagine.

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The fee-burning account traces back to the CEX.IO exchange in a fairly straightforward manner. (CEX.IO is a reputable crypto exchange based in London.)

This CEX.IO-owned address:

rE1sdh25BJQ3qFwngiTBwaq3zPGGYcrjp1 has activated many accounts (presumably wallets of their users?).  One such account was:

r4evBV3i3hN2Yxckn1s9JDyG2wUeDhsjnV, activated with 5999 XRP on 29th Janaury 2018.  A couple of hours later, that account activated the only account it ever has:

rJPuo62fHrYZBZ3ffZXgTBGMXjmavjGcAk, with 5979 XRP. From the end of January, through to a couple of weeks ago, this account activated 68 accounts, the most recent of which was:

rHQ6kEtVUPk6mK9XKnjRoudenoHzJ8ZL9p, the fee-burning account.

Some of the other 68 accounts that were activated by rJPuo6... have been activated with very large amounts of XRP, strongly suggesting at least some of these child accounts are "owned" or have a strong connection to that parent chain that leads directly to CEX.IO.

Maybe contact CEX.IO, explain the situation, and see if they are able to contact the owner of that first account they activated?

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2 hours ago, DQA said:

How can you specify the burning rate? I thought this was fixed.

You can always select the amount of xrp to pay as fee.

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it looks like ddos of some sort .. and thats one of the uses of higher fees for every consequitve transaction stopping ddos by burning out... Everything working as it should imo.

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It looks like this issue has been addressed/fixed by Ripple devs...

Ripple’s XRP Ledger implemented with maximum transaction fee after 100k XRP burn

Published 3 hours ago on June 8, 2018 By Anirudh VK

https://ambcrypto.com/ripple-xrp-ledger-implements-maximum-transaction-fee-100k-xrp-burn/

"The developers on Ripple’s XRP Ledger have implemented a change that caps the transaction fee. This comes after a user on the XRP Ledger burned 100K XRP in transaction fees."

"The Github revision on the Ripple-lib 1.0.0 page reflects the change made in the Ledger at a revision #902. The code in question specifies that the maximum transaction fee cannot be more than 2 XRP. This is included as an optional RippleAPI constructor parameter, with no calculated or specified fee being able to exceed this value. If the fee for a transaction exceeds 2 XRP, the code will throw a ValidationError."

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